But Mr Rudd said 2.9 million low-income families would be fully compensated for the rises.

And 2.6 million of those – 90 per cent – would get a windfall, with compensation totalling 120 per cent of cost rises.

There would be cash assistance for 3.6 million middle-income households, half of which would be fully compensated for extra expenses.

Single pensioners would get an extra $455 a year as compensation and couples $686, Mr Rudd said.

The money would come from forcing industries to buy permits for the tonnage of carbon pollution they produced.

Is there anyway we could look at supporting and sponsoring R & D on alternative power sources instead of just taxing us? Maybe cut out the middle man! For example, some of those billions spent on handouts and school halls could’ve been spent on research, surely?